Examples of Time-share plan in a sentence
Engage, directly or indirectly, in any line of business other than that directly related to the Premises or the Time Share Premises (which shall include the Time Share Plan) or reasonably incidental thereto.
The Borrower shall not, without the prior written consent of the Agent (acting upon the reasonable direction of the Required Term Loan A Lenders) which consent shall not be unreasonably withheld or delayed, enter into, amend or modify in any material respect, cancel, terminate or shorten the term of, or waive any material term, condition or requirement under, any Material Operating Agreement (other than entering into agreements in connection with the Time Share Plan in accordance with Section 8.23).
Neither the Borrower nor any Subsidiary or Affiliate thereof has entered into any agreement or arrangement (other than as contemplated by the Time Share Plan) that provides for any such Person to receive any payments of any nature or kind with respect to the Time Share Premises other than those approved in writing by the Required Term Loan A Lenders (other than the FF&E Lender).
The name of the Time Share Plan is Charthouse Suites Vacation License Plan, and all accommodations and facilities are located at 850 Bayway Blvd., Clearwater Beach, Florida.
The Borrower shall assign and pay to the Agent, no later than 20 days after the end of each calendar month, 100% of any amounts it receives in connection with the Time Share Plan during such calendar month; provided that the Borrower may withhold from such payment an amount equal to the Tax Liability for such calendar month with respect to the taxable income derived from the Time Share Plan.